KUALA LUMPUR, April 17 (Bernama) -- Cyberview Sdn Bhd is in talks with developer partners to develop a residential property with an estimated gross development value of about RM900 million in Cyberjaya.

Managing Director Hafidz Hashim said the project is expected to take off in the fourth quarter of this year as negotiations are still ongoing.

He said the phase one of the project would comprise about 500 units of houses which were specially designed for the middle-income earners.

"We will develop 40 hectares into a residential area and our prime target is the middle-income group," he told reporters after the signing of a memorandum of understanding with Teknopark of Turkey on the sidelines of the 13th Defence Services Asia Exhibition at the Putra World Trade Centre today.

Hafidz however declined to disclose the developer partners'' names and further details on the project.

Cyberview is the landowner mandated to spearhead the development of Cyberjaya dubbed "Malaysia''s Silicon Valley", an ICT and innovation-centric township integral to Malaysia''s Multimedia Super Corridor (MSC Malaysia).

On investment, Hafidz said Cyberview aims to woo close to RM3 billion investments from local and foreign investors this year.

"Last year, we attracted about RM3.2 billion investment, and I believe we can achieve about the same amount this year," he said.

He said Cyberjaya''s physical development has reached about 40 per cent and the company foresees that it would touch 70 per cent over the next three years.

"We are confident because currently foreign multinationals and local companies are showing keen interest to set up their operations such as the global service and delivery centres here," he said.

Currently, about 620 local and foreign companies are operating at Cyberview.